You are here: Home » News & events » Tax News

Tax News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Woman jailed after HMRC spreads investigation net to IHT - July 6, 2015
thumb image

HM Revenue & Customs’ (HMRC) continuing crackdown on tax avoidance and evasion regularly hits the headlines. It is not just focusing its attention on complex tax schemes involving celebrity clients but is spreading its net far and wide, including in relation to inheritance tax (IHT). Following the death of her aunt in 2010, Theresa Bunn, … Continue reading Woman jailed after HMRC spreads investigation net to IHT


HMRC rings changes on helplines - July 6, 2015
thumb image

A major shake-up for HM Revenue & Customs (HMRC) helpline numbers took effect from 30 June. HMRC withdrew its 0845 numbers from that date and customers now need to use one of its 03 helplines instead. There are 132 of the 03 numbers, dealing with issues ranging from air passenger duty to VAT. HMRC said: … Continue reading HMRC rings changes on helplines


Women urged to act on tax savings - July 6, 2015
thumb image

New research has shown that women are less than half as likely as men to try and cut their unnecessary tax payments. Analysis carried out by Prudential and unbiased.co.uk found that only seven per cent of women took any steps to reduce their tax bill in the past year, compared with 19 per cent of men. … Continue reading Women urged to act on tax savings


Experts welcome more relaxed PAYE penalty regime - July 6, 2015
thumb image

Tax experts have welcomed an HM Revenue & Customs’ (HMRC) announcement that it will take a less rigid approach to penalties for employers who provide PAYE information late. HMRC announced on 17 June that rather than issuing late filing penalties automatically to employers whenever they missed a deadline for sending PAYE information, it would take … Continue reading Experts welcome more relaxed PAYE penalty regime


VAT guidance updated - July 6, 2015
thumb image

HM Revenue & Customs (HMRC) has updated its guidance on how to keep VAT records. The guidance, issued on 22 June, replaces the edition published in December 2007. As well as correcting out of date information, the publication includes new guidance on issuing VAT simplified invoices by businesses other than retailers. Topics covered in the … Continue reading VAT guidance updated


Brits set to pay £550m too much in inheritance tax - June 9, 2015
thumb image

Families could be missing out on millions of pounds from loved ones’ estates because people are failing to take inheritance tax planning steps, according to new research. The 2015 TaxAction Report from unbiased.co.uk, which enables consumers to find independent professional advisers, suggests that up to £550 million could be wasted in inheritance tax (IHT) this year. The … Continue reading Brits set to pay £550m too much in inheritance tax


Surprise summer Budget on way - June 9, 2015
thumb image

Chancellor of the Exchequer George Osborne has announced there will be a surprise second Budget in July. Following the Conservative victory in the 7 May general election, he confirmed on 16 May that there would be a summer Budget on 8 July. Writing in the Sun newspaper, Mr Osborne said: “I am going to take … Continue reading Surprise summer Budget on way


Experts issue warning over investment relief reforms - June 9, 2015
thumb image

Tax specialists have warned that planned changes to schemes designed to encourage investment in small and growing businesses could deter some investors from taking advantage of the reliefs. The warning came from the Chartered Institute of Taxation (CIOT) following plans in the March 2015 Budget to reform Enterprise and Seed Enterprise Investment Schemes (EIS/SEIS) and … Continue reading Experts issue warning over investment relief reforms


HMRC issues guidance on employment intermediary reporting - June 9, 2015
thumb image

HM Revenue & Customs (HMRC) has issued updated guidance on the new reports that employment intermediaries – like employment agencies and recruitment firms – need to provide for agency workers if they do not operate PAYE. The guidance, published on 6 April, is designed to help businesses that arrange work placements for individuals with third … Continue reading HMRC issues guidance on employment intermediary reporting


Inheritance ‘still the norm’ - May 15, 2015
thumb image

A new report says that leaving or receiving an inheritance is still seen as the norm for people around the world. The latest report in HSBC’s annual Future of Retirement series, published on 29 April, canvassed the views of more than 16,000 people in 15 countries, including the UK, and found that 74 per cent … Continue reading Inheritance ‘still the norm’


© Copyright Moore Thompson. All rights reserved. | Terms & conditions | Privacy policy | Sitemap
Moore Thompson is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales.
Accountants in Spalding | Wisbech | Market Deeping | Lincolnshire | Cambridgeshire | Peterborough
Responsive Menu Image Responsive Menu Clicked Image